The PricewaterhouseCoopers Global (PwC) network has maintained
its position at the top of the Big Four hierarchy. Worldwide gross
revenues of its network of firms increased 14.4 percent at variable
exchange rates, to a record $25.2 billion for the fiscal year ended
30 June 2007.
The gap between PwC and its closest rival, Deloitte Global, has
remained relatively constant, with PwC increasing its lead by a
fraction. Deloitte reported that aggregate member firm revenues
increased by 15.5 percent in US dollars, to $23.1 billion for the
fiscal year ended 31 May 2007. This put it $2.1 billion behind PwC
in terms of revenue.
In comparison, for the fiscal years ended in 2006, PwC recorded $22
billion, a $2 billion lead on Deloitte’s $20 billion.
Ernst & Young Global and KPMG International are yet to release
their figures for the most recent fiscal years. In 2006, Ernst
& Young reported combined network revenue of $18.4 million and
KPMG reported revenue of $16.9 million.
For the most recent fiscal year, Deloitte reported that every
service line and geographical region delivered double-digit growth.
The firm’s financial advisory services increased 25.2 percent to
$1.9 billion, consulting and tax services each grew 16.5 percent to
$5.2 billion and $5 billion, respectively, and audit services grew
by 13.1 percent to $11.1 billion.
PwC reported that its strongest-growing regions were India, China
and the Middle East. Its advisory service line increased 14.6
percent to $5.7 billion, global tax revenues increased by 15.1
percent to $6.3 billion.
The service line that recorded the slowest growth for both Deloitte
and PwC was assurance. Both firms said this was to be expected due
to predicted lower demand in work associated with IFRS and